FREE CASH FLOW Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2016 2015 $1,430.0 $1,300.0 1,216.0 1,105.0 $214.0 $195.0 39.0 $169.0 $156.0 29.0 $137.0$127.0 50.8 $76.2 Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization Earnings before interest and taxes (EBIT) 45.0 Interest 32.0 Earnings before taxes (EB) Taxes (40%) 54.8 Net income $82.2 Common dividends $74.0 $61.0